Bank of America Down Payment Grant
Bank of America, N.A.
3% of purchase price, up to $10,000
A nonrepayable down-payment grant equal to 3% of the purchase price, capped at $10,000, for a qualifying first-time buyer, Bank of America mortgage and select-market property.
Grant
Locations listed in HomeBase: Maryland or Connecticut
This may not be the program's complete service area. Check the provider's location rules for the home you want to buy.
How and when you repayThe grant does not require repayment. The buyer must repay the associated mortgage and remains responsible for uncovered down payment, closing costs, mortgage insurance and reserves.
Who can apply
About you
- No homeownership during the prior three years.
- Eligible Bank of America mortgage required.
- Maryland selector lists Anne Arundel, Baltimore, Baltimore City, Calvert, Carroll, Charles, Frederick, Harford, Howard, Montgomery, Prince George's, Queen Anne's, and St. Mary's counties.
The home
- Property must qualify in a select market.
How to apply
- Grant availability and credit approval apply.
The program makes the final eligibility decision.
Full requirements, documents, and history
Income tables, education requirements, contacts, complete rules, stacking guidance, sources, and change history
Conditions
No homeownership during the past three years; qualifying Bank of America mortgage; eligible select-market property confirmed by the bank’s property lookup; program underwriting and restrictions.
Reader request
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What can I combine this with?
Most buyers can use more than one program on the same purchase — a state program under a county one, an employer benefit under both. Taking one when three were available is the most expensive mistake on this site, and it is usually made in silence.
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Hello — I'm a homebuyer looking at AgFed ARM Closing Cost Special. Can it be used on the same purchase as Bank of America Down Payment Grant (Bank of America, N.A.)? If it can: 1. Is there a cap on total assistance from all sources combined? 2. Do I need to disclose the other program before I apply, or does it matter which I apply to first? 3. Does using both change the repayment or forgiveness terms of yours? Thank you.
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Hello — I'm a homebuyer looking at APG Federal Credit Union 80/20 Mortgage. Can it be used on the same purchase as Bank of America Down Payment Grant (Bank of America, N.A.)? If it can: 1. Is there a cap on total assistance from all sources combined? 2. Do I need to disclose the other program before I apply, or does it matter which I apply to first? 3. Does using both change the repayment or forgiveness terms of yours? Thank you.
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Hello — I'm a homebuyer looking at Apple FCU First-Time Home Buyer Mortgage. Can it be used on the same purchase as Bank of America Down Payment Grant (Bank of America, N.A.)? If it can: 1. Is there a cap on total assistance from all sources combined? 2. Do I need to disclose the other program before I apply, or does it matter which I apply to first? 3. Does using both change the repayment or forgiveness terms of yours? Thank you.
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Hello — I'm a homebuyer looking at Atlantic Union Bank Closing the Gap Loan. Can it be used on the same purchase as Bank of America Down Payment Grant (Bank of America, N.A.)? If it can: 1. Is there a cap on total assistance from all sources combined? 2. Do I need to disclose the other program before I apply, or does it matter which I apply to first? 3. Does using both change the repayment or forgiveness terms of yours? Thank you.
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Here’s the question to ask
Hello — I'm a homebuyer looking at Clover Capital Community Hero’s Compassion Program. Can it be used on the same purchase as Bank of America Down Payment Grant (Bank of America, N.A.)? If it can: 1. Is there a cap on total assistance from all sources combined? 2. Do I need to disclose the other program before I apply, or does it matter which I apply to first? 3. Does using both change the repayment or forgiveness terms of yours? Thank you.
Ask both program offices, not just one. When their answers differ, the stricter answer is the one that applies at closing.
Unverified research entry — details not yet confirmed.
No published rule either way. Many programs at different levels do combine — this is a short phone call, and the answer can be worth thousands.
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Ask both program offices, not just one. When their answers differ, the stricter answer is the one that applies at closing.
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Hello — I'm a homebuyer looking at Content changed at CASH Campaign of Maryland. Review for a new or updated program. Confidence: high.. Can it be used on the same purchase as Bank of America Down Payment Grant (Bank of America, N.A.)? If it can: 1. Is there a cap on total assistance from all sources combined? 2. Do I need to disclose the other program before I apply, or does it matter which I apply to first? 3. Does using both change the repayment or forgiveness terms of yours? Thank you.
Ask both program offices, not just one. When their answers differ, the stricter answer is the one that applies at closing.
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Hello — I'm a homebuyer looking at CrossCountry Mortgage CCM ZeroDown. Can it be used on the same purchase as Bank of America Down Payment Grant (Bank of America, N.A.)? If it can: 1. Is there a cap on total assistance from all sources combined? 2. Do I need to disclose the other program before I apply, or does it matter which I apply to first? 3. Does using both change the repayment or forgiveness terms of yours? Thank you.
Ask both program offices, not just one. When their answers differ, the stricter answer is the one that applies at closing.
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Ask both program offices, not just one. When their answers differ, the stricter answer is the one that applies at closing.
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Hello — I'm a homebuyer looking at Fairway Homeward Edge. Can it be used on the same purchase as Bank of America Down Payment Grant (Bank of America, N.A.)? If it can: 1. Is there a cap on total assistance from all sources combined? 2. Do I need to disclose the other program before I apply, or does it matter which I apply to first? 3. Does using both change the repayment or forgiveness terms of yours? Thank you.
Ask both program offices, not just one. When their answers differ, the stricter answer is the one that applies at closing.
We only mark a pair confirmed when a published program rule says so and we can cite it. Everything else is honestly unsettled — which is not the same as “no”. Confirm with a housing counselor or your lender before you count on any combination.
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